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Should I accept the insurance company's offered settlement?

It is likely that the insurance companies will contact you if you are involved in a car accident with no fault of your own. You are injured and you have been discharged from the hospital just now. As soon as the insurance company learns this, they will jump quickly to offer you a settlement amount. They will be very soft-spoken and will offer you a very low amount to pay the present medical bills, or less. They will force you to accept the amount and assure you that the whole process will be easier once you sign the release of liability document. Often people think that the decision has to be taken quickly and the insurance companies are expecting just that. But be careful and don't fall into the trap because they never think of your personal interests and will try to pay the least amount compared to what you are really entitled to get. When they are trying to settle the matter very quickly by offering least amount, it is likely that they are liable for a lot more than that. There are numerous factors that you should consider if you are thinking about accepting the company's settlement offer.

Know Your Personal Claim's Value

After a car accident, you have already suffered too much because of another person's mistake. It would be a mistake to represent yourself and accepting the settlement offer given by the insurance company. Before accepting their offer, consult with an attorney at the Lara Law Firm.  Our consultations are free and risk free. When you are still recovering from your injuries, you might not know the cost of future medical bills as you might need therapy and rehabilitation. So, if you do accept an offer at the beginning of your claim, you cannot turn back and request more money from them in the future for more future bills. Most people are not aware how much money they can actually collect in a personal injury lawsuit. When you think you can handle the case without any legal help, you are at a loss because the insurance companies have a lot of experience in handling such cases and they know how to secure low settlements. Hence, it is crucial that you hire an attorney for the handling of your claim in a comprehensive manner.

Factors to Look For

Whenever you receive the settlement offer, it will be much lower than the real amount that the carrier is willing to offer. You have to show them that you have significant injuries and losses with hard evidence on paper. To know the value of your claim, you must consider the following factors:

  • Damage to your personal possessions
  • Disability or chronic disease due to the accident
  • Lost income
  • Lost opportunities at work like promotion
  • Medical bills
  • Counselling and rehabilitation
  • Transportation costs
  • Other expenses because of a car accident

When you get an idea of the amount of these losses, you can negotiate confidently with the insurance company. So, be certain about the damages before you accept the settlement offer.

Negotiate better

You have every right to negotiate the compensation amount when the insurance companies want to settle. But it is worthless if you are negotiating without fully understanding the damages you have suffered in the accident. You can hire an attorney to help you determine the value of your claim.  Further, an attorney can help you in negotiating the settlement amount that you are offered by the insurance company. Most of claims are settled before the trial begins or without filing any lawsuit. But, if that doesn't happen, then you have to put your faith in the jury to get a substantial amount of compensation for your damages.  Be ready and hire a dedicated lawyer for your jury trial.

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Lara Law Firm

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177 N. Church Ave.
Ste. 909
Tucson, AZ 85701

Phone: 520-276-4727
Phone: 520-577-0707
Fax: 520-577-0709
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5151 E. Broadway Blvd.
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Tucson, AZ 85711

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